chicontepec field

The Chicontepec Basin is a petroleum system in Mexico located north-east of Mexico City, covers an area of around 3,800 sq km in the states of Veracruz, Puebla and Hidalgo. Several oil had been discovery in that area since 1926. Major oil was discovered in 1973 but contain extra heavy crude which considered non-commercial viable for long time. Chicontepec Basin is belived to hold 17.6 billion barrels of recoverable reserve. In 2003, PEMEX said it could take total investment of $30 billion over 15 years to fully develop Mexico's oil and gas reserves in the Chicontepec Basin. The project would require drilling 13,500 wells in the basin.

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